Need a break from Real Estate without giving up your BCFSA licence?
"PARK" YOUR BC LICENSE
What Does This Mean?
You maintain your active license status with BCFSA, but you are no longer a member of CREA, BCREA, or a REAL ESTATE BOARD. You can refer clients to other licensees using the standard BCFSA disclosures and receive remuneration for those referrals, but you are not able to trade directly on your own.
HOW LONG - Can I Park My License?
You can PARK YOUR LICENCE INDEFINITELY. The only requirements are that you maintain your license at BCFSA by completing the MANDATORY EDUCATION RE-LICENCING REQUIREMENTS EVERY 2 YEARS (currently Legal Update and Ethics) and pay the BCFSA license renewal fee (currently is $1,580.00).
You do not need the 18 PDP credits as those are a requirements of Real Estate Board memberships.
WHAT PERCENTAGE OR FEE DO YOU CHARGE ON REFERRAL COMMISSIONS?
We charge a small transaction fee per Referral.
WHEN DISCUSSING REAL ESTATE
Am I Required to do all of the Mandatory BCFSA Regulatory Disclosures?
YES! You are still a LICENCED REAL ESTATE PROFESSIONAL and bound by ALL Regulatory Requirements of the Profession.
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DISCLOSURE OF REPRESENTATION IN TRADING SERVICES
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DISCLOSURE OF RISKS TO UNREPRESENTATION
WHAT HAPPENS IF I WANT TO START TRADING AGAIN?
Super Simple. You will need to have the 18 PDP credits you need to re-join a Real Estate Board. Contact us and we will help you navigate this.
Next, find a Brokerage that you want to join. Or talk to us about the incentives to join our sister Brokerage, FAIR REALTY (www.joinfairrealty.com)
Log into IRIS and make an application to transfer your license to that Brokerage.
We will assist you in getting your membership re-activated at the Real Estate Board
